Fannie Mae – Counting Co-Signed Debt: If a borrower has co-signed for someone, do I need to count that debt if they can prove the other person pays it?

Fannie Mae – Counting Co-Signed Debt: If a borrower has co-signed for someone, do I need to count that debt if they can prove the other person pays it?

Answer: Co-signor debt does not need to be counted if the borrower can prove that the person they co-signed for paid the debt for at least 12 mos. Following is the guidance directly from the Fannie Mae selling guide. Reference: B3-6-05, Monthly Debt Obligations (04/25/2017) Debts Paid by Others When a borrower is obligated on […]